Indian shares are likely to open a tad lower on Wednesday amid concerns that rising Covid-19 cases in the country may dent economic recovery.
Shares of oil & gas companies could be focus after oil prices plummeted by about 6 percent overnight on worries over fuel demand recovery.
Benchmark indexes Sensex and the Nifty rose about half a percent on Tuesday while the rupee ended 6 paise lower at 72.43 against the U.S. dollar.
Asian markets are moving lower this morning as renewed lockdowns in Europe clouded the outlook for a swifter economic recovery.
The head of the World Health Organization called recent increases in deaths and cases "truly worrying trends."
U.S. bond yields headed for a third day of declines after Federal Reserve Chairman Jerome Powell played down inflation risks. Gold eased on dollar strength while oil held stable below $60 a barrel.
U.S. stocks ended lower overnight as both Treasury Secretary Janet Yellen and Fed Chair Jerome Powell sounded optimistic about growth but emphasized that the U.S. recovery from the pandemic is far from complete.
The Dow gave up 0.9 percent, the S&P 500 lost 0.8 percent and the tech-heavy Nasdaq Composite tumbled 1.1 percent.
European markets ended mixed on Tuesday as investors reacted to rising Covid-19 cases in the region and recent extensions to lockdowns in Germany, France and Italy.
Concerns over rising tensions between the EU and China weighed as well.
The pan European Stoxx 600 eased 0.2 percent. France's CAC 40 index and the U.K.'s FTSE 100 shed around 0.4 percent while the German DAX edged up marginally.
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